This week, Andrew Tate’s memecoin DADDY outperformed MOTHER in terms of market price, with a liquidity exceeding $2.56M. The frenzy surrounding celebrity memecoins has captured the attention of the community, as well-known figures bring their creative disputes to the world of cryptocurrency. Media personality Andrew Tate introduced DADDY on June 11, adding to the trend of celebrity memecoin promotion on the Solana blockchain.
DADDY quickly gained market traction, surpassing Iggy Azalea’s MOTHER shortly after its launch. As of now, DADDY is trading at $0.2648, with a daily trading volume of $52.69 million as per TradingView data. Initially priced at $0.0100, the token has experienced significant gains. In contrast, Iggy Azalea’s MOTHER token has seen a decline of 12.09% in the past 24 hours.
In recent weeks, various notable individuals have dabbled in memecoins through the Pump.fun memecoin launch tool. The rivalry between Iggy Azalea and Andrew Tate has stirred up the sector, drawing increased attention to Solana. This growing interest in the Solana ecosystem has led to unique developments, such as rapper Lil Pump reportedly getting a ‘Solana’ tattoo on his forehead.
A recent report from lookonchain reveals insider trading activity related to Andrew Tate’s DADDY. An individual exchanged SOL for DADDY before Tate’s promotional efforts, investing 13.2 SOL (approximately $1,950) to acquire 29.8 million DADDY tokens. The trader has since profited significantly, selling a portion of the tokens and holding the rest in an address labeled “DpL2Tm.” Following a price surge, the insider sold 15.9 million DADDY tokens, earning 11,752 SOL (around $1.74 million) in return. Currently, the individual holds 14.7 million DADDY tokens and has realized a profit of $5.6 million.
The ongoing dispute between Tate and Azalea has sparked speculation about the motivations behind their token clashes and betting contests, shaping the landscape of memecoins. In other crypto news today, SEC Chair Gensler anticipates the approval of an Ethereum spot ETF this summer.